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mars1129 [50]
3 years ago
9

If the supplies on hand at the end of January totaled $500 and the Supplies on Hand account before adjustment is $900, what shou

ld be the adjustment at month-end
Business
1 answer:
Natali5045456 [20]3 years ago
4 0

Answer:

The adjustment at month-end is :

Supplies Expense $400 (debit)

Supplies $400 (credit)

Explanation:

The Supplies Account is an asset Account that decreases as the supplies are used in the business.

The use of supplies prompts the recognition of an <em>expense</em> and de-recognition of an <em>asset</em> as follows :

<em>Supplies Expense $400 (debit)</em>

<em>Supplies $400 (credit)</em>

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Current Forecast is 2500 units, current 1st shift capacity is 1300 units. Market growth rate is 10%. How much capacity do you ne
Afina-wow [57]

Answer:

250 units

Explanation:

Calculation to determine How much capacity do you need to buy for next round

Using this formula

Next round capacity needed=Current Forecast*Market growth rate

Let plug in the formula

Next round capacity needed=2500 units*10%

Next round capacity needed=250 units

Therefore How much capacity do you need to buy for next round is 250 units

3 0
3 years ago
The following monthly data are available for Coronado Industries. which produces only one product: Selling price per unit, $38;
In-s [12.5K]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Selling price per unit= $38

Unit variable expenses= $14

Total fixed expenses= $42,000

Actual sales for June= 3000 units.

First, we need to calculate the break-even point in dollar using the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 42,000/ [(38 - 14)/38]

Break-even point (dollars)= $66,500

Now, we can calculate the margin of safety in dollars:

Margin of safety= (current sales level - break-even point)

Margin of safety= (3,000*38 - 66,500)

Margin of safety= (114,000 - 66,500)

Margin of safety= $47,500

5 0
3 years ago
Pets Inc. makes 2 products, dog collars and cat collars. Each passes through the cutting machine, which is the binding constrain
maks197457 [2]

Answer:

Dog Collar 10,000 units

Cat Collar 15,000 units

Explanation:

We have only constraint of 2,000 hours on the cutting machine.

First we will calculate the Contribution margin per hour

Contribution margin per hour = Contribution margin per unit / Numbers of hours required per unit

Dog Collar = $10 / (6/60)hours = 10 / 0.1 = $100 per hour

Cat Collar = $8 / (4/60) hours = $120 per hour

Pets Inc. will make Cat collar more than dog

Hours required for 15,000 unit of Cat Collar = 15000 x 4 / 60 = 1,000 hours

Hours for Dog Collars = 2,000 - 1000 = 1000 hour

Unit of Dog Collar = 1000 hours / (6/60) = 10,000 units

5 0
3 years ago
The allowance for doubtful accounts currently has a debit balance of $200. The company's management estimates that 2.5% of net c
lidiya [134]

Answer:

Bad debt expense (w/o allowance) = $2,875

Bad debt expense ( with allowance) = $2,675.

Explanation:

According to the scenario, the given data are as follows:

Net credit sales = $115,000

Uncollectible percentage = 2.5%

So, we can calculate the bad debt expense without Allowance for doubtful accounts by using following method:

Bad debt expense ( W/o allowance) = $115,000 × 2.5%

= $2,875

After Allowance for doubtful expense

Bad debt expense = $2,875 - $200

= $2,675

4 0
3 years ago
Which of the following is a function of a commercial bank? *
Zarrin [17]

Answer:

lending of depositor's funds

3 0
2 years ago
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